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PG&E bondholders, wildfire victims submit $29 bln alternative bankruptcy proposal

Published 19:27 on October 18, 2019  /  Last updated at 19:27 on October 18, 2019  /  Americas, Canada, US  /  No Comments

Competitors’ bankruptcy proposal for Pacific Gas & Electric (PG&E) would funnel nearly $29 billion through two stock offerings to help cover the embattled California utility’s wildfire liabilities, according to a filing by bondholders and fire victims on Thursday.

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ECOSYSTEM MARKETPLACE: Will small forest owners finally be able to tap carbon markets?

Published 14:50 on October 18, 2019  /  Last updated at 01:25 on October 19, 2019  /  Africa, Americas, Asia Pacific, Climate Talks, Conversations, EMEA, International, New Market Mechanisms, Other APAC, REDD, South & Central, US, Views, Voluntary Market  /  No Comments

The Wong family of Peru amassed a fortune building up a chain of supermarkets, but much of their wealth today is in real estate – including the 220,000-hectare (543,400-acre) Madeacre forestry concession that family’s late patriarch, Erasmo Wong, cobbled together in the province of Tahuamanu.

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FEATURE: Canadian carbon markets, climate policy hinging on next week’s election

Published 02:26 on October 18, 2019  /  Last updated at 21:36 on October 18, 2019  /  Americas, Canada, Carbon Taxes, International, RINs & LCFS, US, Voluntary Market  /  No Comments

An erosion of Canadian voter support for the incumbent Liberals and poll-leading opposition Conservatives may open a range of minority government possibilities ahead of the national election on Monday, the outcome of which will have a significant impact on the country’s federal and provincial climate policies and environmental markets.

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NA Markets: California allowances climb on option activity, RGGI dips on thin volume

Published 22:24 on October 17, 2019  /  Last updated at 01:54 on October 18, 2019  /  Americas, Canada, US  /  No Comments

California Carbon Allowances (CCAs) reversed their recent downward trend as option activity and spread trading spurred higher prices this week, while RGGI allowance (RGAs) declined on thin volume on the secondary market.

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New York City examining offset rules as part of climate legislation, CO2 neutrality pledge

Published 20:58 on October 17, 2019  /  Last updated at 02:32 on October 18, 2019  /  Americas, US, Voluntary Market  /  No Comments

New York City is currently undertaking an inter-agency process of determining offset rules in accordance with the Big Apple’s recent climate bill and separate net zero emissions goal, though it remains to be seen how those credits might square with the state legislature’s carbon neutrality bill passed earlier this year.

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National economy-wide carbon price preferable to sector-specific approaches -PJM

Published 22:15 on October 16, 2019  /  Last updated at 00:22 on October 17, 2019  /  Americas, US  /  No Comments

An economy-wide CO2 price in the US would help prevent against emissions leakage versus sub-national and sector-specific initiatives, while Congressional action would be needed to clarify if federal law will allow for a power sector carbon charge, according to wholesale grid operator PJM.

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New York will advance RGGI regulation this year, despite delays -source

Published 21:29 on October 16, 2019  /  Last updated at 00:46 on October 17, 2019  /  Americas, US  /  No Comments

New York’s Department of Environmental Conservation will release a draft post-2020 RGGI regulation this year and will hold a public comment period as it looks to conform to the US Northeast ETS’ revisions, a government source told Carbon Pulse.

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US EPA to consider half of waived volumes in forecasting 2020 RFS exemptions

Published 22:13 on October 15, 2019  /  Last updated at 22:20 on October 15, 2019  /  Americas, RINs & LCFS, US  /  No Comments

The US EPA will only factor in a portion of past compliance obligations exempted under the Renewable Fuel Standard (RFS) to project waived volumes under the federal biofuels programme next year, the agency announced on Tuesday.

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ANALYSIS: WCI regulated entities building length as California allowance prices dip

Published 19:13 on October 15, 2019  /  Last updated at 01:11 on October 16, 2019  /  Americas, Canada, US  /  No Comments

Regulated entities in the WCI-linked ETS are increasingly taking long positions in the programme as California Carbon Allowance (CCA) prices retreat from record highs, while also selling call options further out on the curve, according to US Commodity Futures Trading Commission (CFTC) data.

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Fuel, power must ramp up GHG reductions to hit California’s 2030 goal -BAML

Published 16:18 on October 14, 2019  /  Last updated at 16:18 on October 14, 2019  /  Americas, Canada, RINs & LCFS, US  /  No Comments

California’s transportation and electricity sectors will have to cut emissions faster in the post-2020 period to ensure the state reaches its 2030 goal, potentially putting bullish pressure on California Carbon Allowance (CCA) prices, according to analysis from Bank of America Merrill Lynch (BAML).

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